US trade deficit jumps by the most in 3 years
Source: CNBC
Published 53 Mins Ago Updated 36 Mins Ago Reuters
The U.S. trade deficit increased to a five-month high in July as exports of soybeans and civilian aircraft declined and imports hit a record high, suggesting that trade could be a drag on economic growth in the third quarter.
The increase was the biggest monthly widening since 2015.
The Commerce Department said on Wednesday the trade gap jumped 9.5 percent to $50.1 billion, widening for a second straight month. Data for June was revised to show the trade deficit rising to $45.7 billion, instead of the previously reported $46.3 billion.
The politically sensitive goods trade deficit with China surged 10 percent to a record $36.8 billion.
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Read more: https://www.cnbc.com/2018/09/05/us-trade-deficit-jumps-by-the-most-in-3-years.html
So much winning.
SunSeeker
(51,576 posts)...at wrecking our economy.
ananda
(28,868 posts)nt
democratisphere
(17,235 posts)Bengus81
(6,931 posts)for his massive bungling and pissing match trade war.
Farmer-Rick
(10,192 posts)Really didn't do anything to improve the economy.
OnlinePoker
(5,723 posts)Forecast exports of wheat have been increased by 2 million MT and corn by 2.5 million MT this year according to the USDA's Foreign Agriculture Service August update.
Farmer-Rick
(10,192 posts)What about all those reports of lost grain markets to China? Lost pork sales?
Bengus81
(6,931 posts)Maybe because China doesn't import that much or it's such a world wide market they can sell elsewhere?? Corn could be going for ethanol depending on the type.
But hey...if things are that good then why do farmers need welfare checks??
OnlinePoker
(5,723 posts)One of the issues Trump has with Canada is our high dairy tariffs being unfair to U.S. producers because they can't sell their surplus product here. But the U.S. subsidizes the farmers by 40% which has caused massive over-production. Canada also has no growth hormones or antibiotics in our dairy products and don't want to have that forced on us since it's allowed in the States.
mahatmakanejeeves
(57,516 posts)Thanks, Yonnie3.
From the Bureau of Economic Analysis:
The U.S. monthly international trade deficit increased in July 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $45.7 billion in June (revised) to $50.1 billion in July, as exports decreased and imports increased. The previously published June deficit was $46.3 billion. The goods deficit increased $4.2 billion in July to $73.1 billion. The services surplus decreased $0.1 billion in July to $23.1 billion.
Yonnie3
(17,444 posts)There is a definite trend there. I've read that the recent dip was caused by transactions rushed to avoid the tariffs.
Meanwhile 45 tweets:
"The Trump Economy is booming with help of House and Senate GOP. #FarmBill with SNAP work requirements will bolster farmers and get America back to work. Pass the Farm Bill with SNAP work requirements!"
I am not going to link to his tweets any more.
mahatmakanejeeves
(57,516 posts)I wish that were a policy at DU, because rerunning them here contributes nothing. Instead, they are treated as if they are newsworthy.
You're welcome for the chart, and good morning to you.
keithbvadu2
(36,835 posts)They provide backup for the info when I can use it in other forums.
The tweets often contain other images and info.
Yonnie3
(17,444 posts)on twitter.com and easy to find if you need links.
keithbvadu2
(36,835 posts)Yonnie3
(17,444 posts)mahatmakanejeeves
(57,516 posts)Bengus81
(6,931 posts)As if Steve Duchebage is some sort of reporter asking Trump the tough questions.......
pazzyanne
(6,556 posts)The "Master of the Deal" in actions with the resulting "winning". Don't know about you, but I am fricken tired of all the winning!
Grins
(7,218 posts)But...but...but..."Winning"?